Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Landlord Investment Slump Pushes Rents Higher, Says Zoopla
UK rents are expected to rise by between 4% and 5% by the end of the year, according to new findings from Zoopla reported by Property118. The property portal attributes the projected increase to weak landlord investment, which has caused the supply of rental homes to fall for the first time in three years.
Supply Recovery Reversed
Zoopla's data shows that the number of available rental homes began dropping in May. This decline reversed a supply recovery that had previously helped to slow the pace of rent rises.
What This Means for Letting Agents and Inventory Clerks
For letting agents, the renewed squeeze on rental supply is likely to mean continued competition among prospective tenants for available stock, with rents forecast to climb through to the year-end. Inventory clerks should also be aware that a tightening market may increase demand for timely, accurate inventory services as tenancies turn over more quickly in a competitive lettings environment.
Agents may wish to monitor Zoopla's supply and rent data closely over the coming months, as the reported reversal in rental stock availability marks a notable shift after three years of recovering supply.
Source: Property118